Seth Newman Purchases Retail Property On Malcolm X Boulevard From Bill Serbin For $2 Million
241 Malcolm X Boulevard
$2,000,000
$1,333/SF
Building Size
1,500 SF
Asset Type
Retail
Closing
Jan 16, 2025
About this deal
AI
The asset involved in this transaction is a retail property located at 241 Malcolm X Boulevard in Harlem, Manhattan. It was sold for a transaction amount of $2,000,000, and the total square footage of the property is 1,500, resulting in a price per square foot of $1,333.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,000,000
- Square Footage: 1,500
- Price Per Square Foot: $1,333
- Buyer: Seth Newman
- Seller: Bill Serbin
- Broker: Ariel Ben Ezra - Wingate Advisors
- Date of Transaction: 01/16/2025
The transaction was facilitated by Ariel Ben Ezra from Wingate Advisors, who represented the seller, Bill Serbin, in this sale. The buyer, Seth Newman, acquired the retail property under terms not specified in the available details.
On the Map
$2,000,000
$1,333/SF
Retail
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New York Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93